Pension for Expat

Jude13

Hi there, I have been living outside the Ireland (and the EU) for nearly 8 years. I am looking for advice in relation to pension plan back in Ireland.

There are loads of firms here offering services however from what I have seen they are just selling other firms, standard chartered for example, products with a mark up. Also a few pals have been burned so I would prefer to deal at home.

I worked for about 5 years full time in Ireland, straight out of college, before I was made redudant.

So two Q's I guess:
What products or firms are best for an Irish Expat?
Am I entitled to a state pension in many years time?

skippy2

I am just starting this so please do your own research.
Considering setting up an online brokerage account and buying index funds long term, with less fees
Just Looking into similar myself and investigating buying index funds as an alternative. I am looking into Vanguard index funds.
When I look into Pension funds a lot of them are literally just doing the same and repackaging it and charging you for the pleasure

Take some time and get advice before locking yourself into a Pension fund if there is no tax incentive. You could do better by buying a portfolio of index funds long term. Just leave it there long term and do not touch. I think long term in Ireland any Pensions will be means tested so dont count on anything there. Many countries are now going this route. If you are not paying PRSI in Ireland i dont think you are entitled to much....ie. dont rely on that. the Joys of working and earning tax free in the ME.
Some good books out there if you do some research

Would seriously think there is no reason to set up a pension fund in Ireland if you are not earning and paying tax there. Its the tax break that makes it worthwhile.

But start now and get some money put away while you are young you will reap the benefits later in life...........especially if you are earning tax free. Wish i had done more younger but never to late to start

skippy2

Just saw another thread here might be of interest

http://askaboutmoney.com/threads/negative-about-pensions.197915/

Carawaystick

If you are not getting the tax break for having an irish pension, I'd avoid them.
The pension companies charge an arm and a leg, and the govt can steal your savings if they want to .

Mrs OBumble

I believe that to be eligible for even a non-con tributary state pension in Ireland, you need to have paid "stamps" (ie PRSI contributions) here, or in a country that Ireland has an appropriate bi-lateral agreement with, for ten years.

(It's not something I've researched heavily - do your own research rather than rely on this advice.)

One important question: where do you think you will retire?

Kristopherus

Mrs OBumble wrote: »

I believe that to be eligible for even a non-con tributary state pension in Ireland, you need to have paid "stamps" (ie PRSI contributions) here, or in a country that Ireland has an appropriate bi-lateral agreement with, for ten years.

(It's not something I've researched heavily - do your own research rather than rely on this advice.)

One important question: where do you think you will retire?

No. Non-contributory State Pension is just that - no prsi or other contributions needed.

OP, is it any harm to ask you where you are?

Jude13

Nope, I am in Dubai. I paid a massive 9to me anyway) amoutn of tax when I worked in Ireland